Lamar Advertising (NASDAQ:LAMR) Hits New 12-Month High – Here’s What Happened

Shares of Lamar Advertising Company (NASDAQ:LAMR) hit a new 52-week high on Tuesday . The stock traded as high as $160.00 and last traded at $159.9650, with a volume of 8088 shares traded. The stock had previously closed at $158.01.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Lamar Advertising in a research report on Friday, May 22nd. Wells Fargo & Company increased their price objective on shares of Lamar Advertising from $136.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Morgan Stanley set a $145.00 target price on shares of Lamar Advertising in a report on Thursday, May 7th. Finally, TD Cowen lifted their target price on shares of Lamar Advertising from $150.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, May 14th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

Lamar Advertising Trading Up 1.8%

The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 3.33. The company has a market cap of $16.32 billion, a PE ratio of 29.66 and a beta of 1.19. The company has a fifty day simple moving average of $150.00 and a two-hundred day simple moving average of $137.52.

Lamar Advertising (NASDAQ:LAMR) last announced its quarterly earnings data on Thursday, May 7th. The real estate investment trust reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.18. Lamar Advertising had a return on equity of 55.53% and a net margin of 24.01%.The business had revenue of $528.00 million during the quarter, compared to analysts’ expectations of $522.86 million. Analysts anticipate that Lamar Advertising Company will post 8.41 EPS for the current year.

Lamar Advertising Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th were paid a $1.60 dividend. The ex-dividend date was Tuesday, June 16th. This represents a $6.40 dividend on an annualized basis and a yield of 4.0%. Lamar Advertising’s payout ratio is currently 118.08%.

Institutional Investors Weigh In On Lamar Advertising

A number of large investors have recently modified their holdings of LAMR. CoreCap Advisors LLC raised its holdings in shares of Lamar Advertising by 357.9% in the 2nd quarter. CoreCap Advisors LLC now owns 1,383 shares of the real estate investment trust’s stock valued at $216,000 after purchasing an additional 1,081 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of Lamar Advertising by 16.1% during the second quarter. Versant Capital Management Inc now owns 3,352 shares of the real estate investment trust’s stock worth $523,000 after purchasing an additional 466 shares in the last quarter. Pacer Advisors Inc. grew its stake in shares of Lamar Advertising by 2.9% during the first quarter. Pacer Advisors Inc. now owns 13,601 shares of the real estate investment trust’s stock worth $1,723,000 after purchasing an additional 382 shares in the last quarter. Empowered Funds LLC increased its holdings in Lamar Advertising by 11.2% in the first quarter. Empowered Funds LLC now owns 67,392 shares of the real estate investment trust’s stock valued at $8,536,000 after buying an additional 6,793 shares during the last quarter. Finally, Militia Capital Management LLC purchased a new position in Lamar Advertising in the first quarter valued at $2,799,000. 93.78% of the stock is owned by hedge funds and other institutional investors.

About Lamar Advertising

Lamar Advertising Company (NASDAQ: LAMR) is one of North America’s largest outdoor advertising firms, specializing in out-of-home media solutions. Since its founding in 1902, the company has grown through a combination of organic expansion and strategic acquisitions to offer a broad portfolio of advertising products. Its core business centers on billboard advertising, encompassing traditional static billboards and a rapidly expanding network of digital displays. These assets enable advertisers to reach consumers with high-impact messaging along highways, in urban centers, and at high-traffic intersections.

In addition to highway billboards, Lamar offers a variety of supplemental out-of-home formats, including transit advertising on buses and shelters, and logo signage at travel plazas and gas stations.